Bank of America hikes its minimum wage to $22 per hour
CBSN
Bank of America is giving its lowest-paid employees a bump in wages to $22 an hour, equivalent to nearly $46,000 a year for full-time workers.
The Charlotte, North Carolina-based company's pay increase bolsters the earnings of a large portion of its 174,000 U.S. employees, and follows wage hikes that started with the bank increasing its hourly base to $15 in 2017, $17 in 2019 and then $21 in 2021. BofA previously announced that it plans to gradually raise its base pay to $25 per hour by 2025.
In 2020 (the latest year for which data is available), the median earnings of all U.S. workers 15 and older was $41,535, according to the Census Bureau. For full-time workers, median pay came to $61,417 for men and $50,982 for women, according to the agency, which pegged the poverty threshold for one person in 2020 at $13,171.
Meta is ending its key diversity, equity and inclusion programs, joining other corporate giants like Ford, McDonald's and Walmart that have pulled the plug on their DEI initiatives.
The Biden administration on Friday announced it would extend the temporary legal status of nearly 1 million immigrants from El Salvador, Sudan, Ukraine and Venezuela, utilizing a program that is expected to be curtailed by the incoming Trump administration.
At least four people were injured Friday morning after a Minneapolis-bound Delta Airlines flight aborted its takeoff at Hartsfield-Jackson Atlanta International Airport, airport officials said.
Titan Farms, a South Carolina company that supplies fresh and frozen fruits and vegetables to major U.S. retailers, illegally deducted political contributions and cleaning fees from more than 1,300 seasonal foreign workers, according to federal officials.
Macy's is closing 66 store locations that it has said are underperforming. The closures are part of the storied retailer's turnaround strategy.
President-elect Donald Trump was sentenced to be released with no restrictions Friday after his criminal conviction in the "hush money" case in New York.
Tesla is recalling more than 240,000 vehicles because of a rearview visibility issue.
The victims who died in the wind-driven fires that have decimated the Los Angeles area fires this week include a man who was found holding a garden hose as well as an 82-year-old man who died in his bed, family members told CBS News.
Rudy Giuliani is set to appear in a Washington, D.C., federal courtroom Friday as a federal judge considers a request from two Georgia election workers to hold the former New York City mayor in contempt for allegedly continuing to defame them in violation of a court order.
Employers added 256,000 jobs in December, far exceeding economists' expectations and signaling that the job market remains resilient in the face of still-high borrowing rates and stickier-than-expected inflation.